SCHEDULE 1Persons who have significant influence or control over another

PART 2Partnerships

Interpretation of Part 2

5.

For the purposes of this Part—

(a)

“relevant entity” means any body corporate or other entity (whether incorporated or not) that is a legal person under the law by which it is governed, other than a person of a type listed in schedule 2,

(b)

examples of significant influence and control include, in particular, where a person—

(i)

has the right to unilaterally take or veto decisions about the governance and running of a partnership,

(ii)

has the right to appoint or remove any partners of a partnership without application to a court, or

(iii)

is able to influence the decision-making of a partnership without holding any formal governance position within the partnership, particularly in respect of the partnership’s dealings with land,

(c)

for the purposes of paragraph (3)(b)(iv), a person (A) does not exercise significant influence and control over a recorded person or the partnership if A is also a recorded person under paragraph 3(a).